Authors: S. M. TKHAMOKOVA, candidate of economic sciences, associate professor, Kabardino-Balkarian State Agrarian University named after
V. M. Kokov (8 Vidyaykina Str., 360000, Kabardino-Balkarian Republic, Nalchik; e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.)
Keywords: budget management, budgeting; budget, resources, company, business, management, capital, planning, control, analysis, revenues, costs, forecast, frames, structure, financial responsibility centers, regulations, audit, internal control.
Abstract. Company management is a process involving many components. From different points of view, some of them can be applicable only to operational management, while others ‒ only to planning development horizons. But among the variety of management tools for any enterprise, it is possible to single out the only one equally involved in operational processes and in the development of business prospects ‒ this tool is called “Budget Management”. Before substantively considering practical tips and recommendations that will illustrate how budgeting is performed at an enterprise, and at the same time find out more deeply why a budgeting system is needed for a modern and dynamically developing market participant, you should pay attention to the crucial importance of this step in the company’s self-determination. After all, the construction of a budgeting system is extremely responsible and, in many ways, capable of influencing the company’s future stage in the development of an organization. At the same time, it is not necessary to assume that the introduction of a budgeting system in an enterprise will require only the appropriate configuration of the automated information system and the presence of a programmer who can modify the new reports. Of course, much depends on the information development of the enterprise in this difficult process, but far from everything. The decisive role in the formulation of the budgeting system and the improvement of the existing budgeting system in an enterprise is played by the professionalism and involvement of financial management. The transition to a full-fledged budgeting system in the company and the budget management system is impossible without a serious structural change throughout the organization, since setting up an effective budgeting system requires that management and employees have serious, verified, coordinated and focused work.
